An Understanding Of Forex Charts Is Essential To The Successful Trader

Although fundamental analysis formed the basis of trading decisions for many years, today most traders rely far more heavily on technical analysis and this means that they must also have the ability to read Forex charts.

There are several different price charts available to traders but they all essentially convey information about Forex prices for a specific time period which can range from just a matter of minutes to many years. Charts can be plotted in different formats ranging from simple line charts to more complex candlestick charts, plotting price variations for particular time intervals.

Most traders will be familiar with line charts as this is a very common format for plotting a range of financial data and most of us have grown up with line graphs. Here closing prices are normally plotted for a particular time period and such charts give a very clear and easy to read picture of movements in prices over that time period.

Bar charts are generally more difficult to read, but have the advantage of being able to convey much more information. For example, the length of a bar can indicate the price spread for a given period of time, so that the longer the bar the greater the difference between the high and low price. Bars can also be annotated to show the opening price on the left of the bar and the closing price to the right, enabling you to see at a glance whether the price has risen or fallen. One disadvantage with many bar charts is that they often put so much information onto a chart that it can be difficult to read, although modern software enables you to adjust a chart to focus in on the specific information you require.

A very popular charting technique today is known as candlestick charting, which was originally invented by the Japanese for analyzing rice contracts and is essentially a color coded variation of standard bar charting, with red candlestick bars indicating falling prices and green candlestick bars representing rising prices.

Reading candlestick charts takes a bit of getting used to but the various candlestick shapes when viewed in relation to neighboring shapes form a number of classical patterns. Nor surprisingly, many of the patterns have acquired names over the years and these include such delights as 'Dark Cloud Cover' and 'Morning Star'. Although it takes a bit of time to master the art of reading candlestick charts, once you become familiar with the different patterns it is fairly easy to see just what is happening in the market and to pick out particular market trends.

Of course charts by themselves, while extremely helpful, do not tell the whole picture and so it is necessary to supplement the information provided by the various different charts with a combination of different technical indicators such as relative strength indicators (RSI), Bollinger bands, average directional movement (ADM) to name just three. Nevertheless, there are fewer and fewer traders today who do not rely to a very large degree on charting for their trading decisions.

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A Short Guide For Buying The Bowflex PR3000

The Bowflex PR3000 home gym gives a complete body workout with the greatest advantage for users. Using a patented Power Rod pulley system, you no longer need to adjust cables between sets so your workout flows easily and is uninterrupted. Trainers and gym lovers alike regard the PR3000 to be a an upgraded version of its predecessor, the PR1000. It takes on the advantageous features of the latter by improving them and introducing valuable new features also. 

 This design lets you to tone your body where it matters specifically the chest, shoulders, back, and especially the abs. More than fifty exercises can be accomplished on the Bowflex PR3000; a large improvement from its predecessor which only offers up to thirty workout routines. The overall body workout promise is seen by the step-by-step guides available with each purchase of this model. You can use them as reference when you carry out side shoulder raises, seated resistance abdominal crunches, standing calf exercises, chest exercises (incline and decline), seated rotations for your mid-section military press, ab crunches, quads, neck strengthening exercises, tricep pull-downs, and more. More exercise guides are available at the Bowflex site.

 Another noteworthy improvement from the PR1000 is the inclusion of upholstered roller cushions for leg workouts in the Bowflex PR3000. While all leg and lower body movements can be done with the previous model, many customers complained about being too tall to have satisfying leg workouts on it. This model now features four-inch upholstered roller cushions to specifically address leg strengthening exercises.

 Another impressive new feature available in the Bowflex PR3000 is the leg attachment. The PR1000 had no such thing. Customer-written reviews raised the issue of not being able to perform acceptable leg curls and raises on it. With this model, you can expect upholstered roller cushions you can use for leg extensions and leg curls for genuinely strenuous leg and calf exercises. 

 Moreover, the number of physical exercises you can do on a Bowflex PR3000 has increased to fifty from the mere thirty obtainable by the PR1000. This is due by and large to the introduction of the leg attachment plus the fact that you can upgrade up to 310 pounds of resistance on the Power Rods. More complex and intense workout are now possible with this design, including decline and incline bench presses, seated military presses, lateral deltoid raises, standing lower back extensions, narrow grip pull downs, triceps extensions, seated weighted abdominal crunches, trunk rotations, Quadricep strengthening, squats, standing calf raises, and much more. Each gym comes with a series of workout pictorials to serve as visual guide during training programs, though more training programs are available at the Bowflex site.
  

 The Bowflex PR3000 at present has a 4.5 out of a five star average customer rating system at Amazon. Countless of the customer-written reviews talk about being happy at the improvements and new features introduced with this model. Overall, the consensus is constructive and applauds the upgrading involved with the making of the PR3000 home gym system

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